Gr Noida tells builders to charge uniform rates for land acquisiton

NOIDA: The Greater Noida Authority has told the city's builders to charge homebuyers uniformly for land acquisiton following a lot of complaints from the buyers on differential rates being charged by the developers.

The Greater Noida Industrial Development Authority (GNIDA), in a meeting with the city's builders represented by the Confederation of Real Estate Developers Association of India (Credai) on Monday, asked them to rationalise the charges. The GNIDA has also asked builders to start taking maintenance charges, only after residents start residing in their apartments officially.

While it is not a formal order from the GNIDA much as the buyers would have wanted it to be, it does put pressure on Credai to make the builders fall in line. Greater Noida Authority additional CEO, P C Gupta, told TOI that the Authority has been receiving complaints from buyers off and on. "Different builders have been charging the buyers differently for land acquisition. We have asked them to transfer these charges rationally. Also, we have asked the builders to charge for maintenance only after the buyers start living in their apartments," Gupta said.

According to buyers, builders in Noida Extension have been levying land acquisition charges differently. While some have charged Rs 50 per square foot plus service taxes; others charge Rs 60 per sq ft plus service taxes. Now many builders who have started handing over flats are even charging as high as Rs 85 per sq ft plus taxes.

On its part, Credai insisted at the meeting that the Greater Noida Authority execute its share of infrastructure work speedily. Credai NCR president Manoj Gaur told TOI that almost all those apartments which were sold in 2012, would be up for possession by December 2016.